The creation of a new consolidated company to operate Kazakhstan's troubled giant offshore Kashagan field “will enhance the efficiency of workflows,” an official from NCOC press service told New Europe on 9 June.
Exxon executive Stephane de Mahieu will be the managing director of a new single consolidated joint-venture company - North Caspian Operating Company (NCOC), the NCOC official said.
“Exxonwon’t bethe operator. It’s a new consolidated company that is going to be created,” the official said by phone from Astana. “It does not mean that the operatorship is going to be taken over by Exxon.Thisnew company willtake over the roles of the current operator and the agent companies andwill have representatives from all companies,” the official added.
The troubled $50 billion project offshore Kazakhstan, Kashagan, finally started production last September but was halted in early October after the discovery of gas leaks in the pipeline network.
The NCOC said in a press release earlier that the plan is to start integrating and consolidating the companies this year. "Activities associated with establishing the single operating company will not affect the pipeline repair activities, preparations for the production restart, or completion of the remaining Phase 1 scope. The current operating model will continue under the existing management teams until changes are formally announced,” the NCOC said.
Italian energy major ENI was given the job of operating the project in 2001. However, following major delays and cost overruns, ENI later lost its role as the sole lead operator.
The Kashagan shareholders are ENI, ExxonMobil,Anglo-Dutch Royal Dutch Shell, France’s Total and Kazakh state oil company Kazmunaigas, each with 16.8%, and Japan’s Inpex and ChinaNational Petroleum Corp (CNPC) as junior partners.
All companies will work together under the new venture. “The single consolidated joint-venture company will build on the foundations and strengths of NCOC and its development, production, and drilling agents. The new company will operate under a single corporate management system, which integrates existing processes and tools from venture entities,” the NCOC statement said.
http://www.neurope.eu/article/new-consolidated-company-boost-kashagan-efficiency